Radiopharmaceutical developer Navidea Biopharmaceuticals released financial results for the first quarter of fiscal 2015 that were up sharply thanks to growing sales of its Lymphoseek agent.
For the quarter (end-March 31), the company reported revenues of $2.1 million, compared with $752,000 for the same period the previous year. Navidea's net loss for the quarter was $7.3 million, compared with $11.7 million for the same period in 2014.
Navidea has been increasing sales of its flagship Lymphoseek agent in recent quarters: The most recent quarter included $1.8 million in Lymphoseek sales, compared with $1.5 million in the fourth quarter of 2014 and $627,000 in the first quarter of last year, the company said.
The company expects to see Lymphoseek revenue of $10 million to $12 million in 2015.
